Wiseguyreports.Com Adds “Connected Logistics -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 2022” To Its Research Database

According to Stratistics MRC, the Global Connected Logistics Market accounted for $9.72 billion in 2016 and is expected to reach $54.80 billion by 2022 growing at a CAGR of 33.4% from 2016 to 2022. The connected logistics market is expected to boost the operational efficiency of various logistics applications such as warehouse management, inventory management, fleet management, tracking and monitoring and telematics connectivity. Factors such as rising demand for the effective management of temperature-sensitive products, growing affordability of components such as sensors and RFID devices, growing need for operational efficiency are favouring the growth of the connected logistics market. Moreover, emergence of IoT connecting devices, innovations in mobile technology and increasing government initiatives are fuelling the market. Lack of standardized regulations in organizational bodies is hampering the connected logistics market.

Asset management segment is expected to dominate the overall connected logistics software market in 2016 and is projected to sustain its growth over the forecast period. North America accounted for the largest share in market owing to its early adoption of connected logistics services, technological advancements and greater connectivity to worldwide locations.